The Rockland Trust Charitable Foundation has awarded $50,000 to Island Housing Trust Corporation for the construction of Kuehn’s Way, a pocket neighborhood of 20 affordable housing rental apartments in Tisbury on Martha’s Vineyard.
These apartments will be available to year-round working Martha’s Vineyard residents and their children.
On Martha’s Vineyard, only 38 percent of the housing stock is available for year-round occupancy, contributing to severe shortage year-round rental housing for Island residents. More than 600 year-round homes over the past decade were sold to seasonal and investment property owners. Over 21 percent of year-round Vineyard residents are paying more than 50 percent of their income on housing costs.
“The work of the Island Housing Trust is crucial to supporting individuals and families in need of affordable housing on Martha’s Vineyard,” said Edward H. Seksay, president and chair of the Rockland Trust Charitable Foundation. “We are honored to support the construction of the Kuehn’s Way neighborhood.”
The one-, two-and three-bedroom apartments are universally designed for increased accessibility, close to public transportation, and feature high energy efficient standards that will reduce energy bills for families and carbon emissions into the environment. This new neighborhood at Kuehn’s Way will serve 60 Island residents and their families currently experiencing housing insecurity with safe, stable, and affordable rental opportunities that will remain affordable in perpetuity.
“Rockland Trust has provided a tremendous amount of support over the years that has changed the lives of hundreds of Island families and residents” said Philippe Jordi, founding executive director of Island Housing Trust. “We are fortunate to have Rockland Trust as a community bank committed to our mission.”
The construction of Kuehn’s Way is expected to be completed this summer and the apartments open for occupancy this fall. Island Housing Trust has worked closely with Martha’s Vineyard Commission, Dukes Housing Regional Housing Authority, and the Town of Tisbury to ensure that the project is meeting the needs of the community. They have also received state grant funding and financing from MassHousing’s Workforce Housing Program and the Department of Housing and Community Development’s Community Scale Housing Initiative and Rural and Small Town Programs.